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According to Reuters, the index was up by 1.7 per cent at midday, bouncing back from the decline that was seen on Friday in the wake of the news that Dubai World is looking to halt debt repayments.
The climb took the index to 5280.72 points and many banks rose on the index, with Royal Bank of Scotland, HSBC, Standard Chartered and Barclays adding up to 4.2 per cent.
Businesses in the mining sector also saw their stock increase, as Eurasian Natural Resources climbed by 4.6 per cent after being upgraded by Credit Suisse and Xstrata, Fresnillo, Anglo American, BHP Billiton and Rio Tinto also gaining.
Market analyst Nick Serff stated that the improved performance in the UK was prompted by a rise in the US yesterday, which occurred when Dubai World said it intents to restructure some of its debt.
He added that indexes across Europe have "shrugged off" concerns regarding Dubai's debts.
Posted by Chris Weaver
